Quantinno Capital Management LP Raises Holdings in Ferrari (NYSE:RACE)

Quantinno Capital Management LP increased its position in shares of Ferrari (NYSE:RACE) by 9.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,734 shares of the company’s stock after purchasing an additional 985 shares during the quarter. Quantinno Capital Management LP’s holdings in Ferrari were worth $4,996,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in RACE. Hanson & Doremus Investment Management purchased a new stake in shares of Ferrari during the fourth quarter worth approximately $26,000. Kestra Investment Management LLC purchased a new stake in Ferrari in the 4th quarter valued at $45,000. Plato Investment Management Ltd purchased a new stake in Ferrari in the 4th quarter valued at $53,000. Newbridge Financial Services Group Inc. grew its holdings in Ferrari by 705.9% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 137 shares of the company’s stock valued at $58,000 after buying an additional 120 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in Ferrari by 53.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 144 shares of the company’s stock valued at $61,000 after buying an additional 50 shares in the last quarter.

Ferrari Price Performance

RACE opened at $498.99 on Friday. The stock’s 50-day moving average price is $447.01 and its 200 day moving average price is $447.04. Ferrari has a 12-month low of $391.54 and a 12-month high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a market cap of $120.94 billion, a price-to-earnings ratio of 54.53, a PEG ratio of 4.43 and a beta of 1.13.

Ferrari (NYSE:RACE) last posted its earnings results on Tuesday, May 6th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. Ferrari had a return on equity of 46.69% and a net margin of 22.81%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company earned $1.95 EPS. Ferrari’s revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts expect that Ferrari will post 9.22 earnings per share for the current year.

Ferrari Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, May 6th. Investors of record on Wednesday, April 23rd were paid a dividend of $3.1265 per share. This is a positive change from Ferrari’s previous annual dividend of $2.44. The ex-dividend date was Wednesday, April 23rd. This represents a yield of 0.5%. Ferrari’s dividend payout ratio is presently 5.45%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Ferrari from $525.00 to $460.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. UBS Group upped their target price on Ferrari from $520.00 to $560.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research note on Thursday, February 6th. They issued a “hold” rating on the stock. StockNews.com lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays raised Ferrari from an “equal weight” rating to an “overweight” rating in a research note on Friday, March 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $526.25.

Ferrari Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.